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Taqa Q2 net loss widens to $160m

ABU DHABI, August 10, 2016

Abu Dhabi National Energy Co (Taqa), the state-owned oil explorer and power supplier, on Wednesday reported a second-quarter net loss of Dh588 million ($160.2 million), as it was hit by low oil prices.

This compares with a net loss of Dh421 million in the same quarter of last year, Taqa said in a bourse filing.

Revenues from oil and gas fell to 1.04 billion dirhams in the second quarter versus Dh1.59 billion in the prior-year period. – Reuters




Tags: abu dhabi | Taqa |

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